Examples of Cimarron Standby Trust Fund in a sentence
If the Cimarron Trustee elects to establish a new Cimarron Standby Trust Fund, the Cimarron Trustee shall provide NRC with proposed language for the agreement governing the new Cimarron Standby Trust Fund to ensure that the agreement conforms with 10 C.F.R. 70.25(e)(ii).
The purpose of the Cimarron Trust Environmental Cost Accounts and the Cimarron Standby Trust Fund shall be to provide funding for future Decommissioning Activities, Environmental Actions and certain future regulatory fees and oversight costs of NRC and the State of Oklahoma with respect to the Cimarron Site.
Upon receipt of the Cimarron Site and the Funding and Consideration, the Cimarron Trustee shall create a segregated Cimarron Trust Federal Environmental Cost Account and a Cimarron Trust State Environmental Cost Account and a segregated Cimarron Standby Trust Fund within the Cimarron Trust.
The NRC shall be the sole beneficiary of the Cimarron Standby Trust Fund.
The funding of the Cimarron Standby Trust Fund shall be the funds from the Cimarron LOC.
On the Effective Date, the Settlors shall cancel the Cimarron LOC and remit the funds from the Cimarron LOC to the Cimarron Standby Trust Fund already in existence, or to a new Cimarron Standby Trust Fund that may be established by the Cimarron Trustee in accordance with applicable NRC regulations (which, together with the Funding, constitutes the “Funding and Consideration”).
The Cimarron Trustee shall create segregated Cimarron Trust accounts (“Cimarron Trust Environmental Cost Accounts”) and a segregated Cimarron Standby Trust Fund within the Cimarron Trust.
Except for architectural services and engineering services, the Trustee shall use competitive bidding to select the most suitable contractor for any work on matters to which the Cimarron Trust Federal Environmental Cost Account or the Cimarron Standby Trust Fund applies, and that is not carried out by the Trustee.
Assets of the Cimarron Trust Environmental Cost Accounts, the Cimarron Standby Trust Fund and the Cimarron Trust Administrative Account (collectively, the “Cimarron Trust Accounts”) shall be held in trust solely for the purposes provided in this Settlement Agreement.
On and after the Effective Date, Debtors and Reorganized Tronox shall have no ownership or other residual interest whatsoever with respect to the Cimarron Trust, the Cimarron Standby Trust Fund or the Cimarron Site.